Idea Cellular Q4 Net profit slips; Reduce Idea cellular- says Angel Broking
Idea Cellular, the telecom arm of the Aditya Birla group, has posted a net profit after tax of Rs 274.26 crore for the quarter ended March 31, 2009 whereas the same was at Rs 276.69 crore for the quarter ended March 31, 2008.
Further, the company has posted total income of Rs 2936.49 crore for the quarter ended March 31, 2009, against Rs 1985.26 crore for the quarter ended March 31, 2008.
For the financial year ended March 31, 2009, the company has registered a net profit after tax of Rs 900.87 crore against Rs 1042.31 crore for the year ended March 31, 2008.
While, company has cloaked total income of Rs 10148.41 crore for the year under review against Rs 6737.45 crore for the year ended March 31, 2008.
During the year, the company added 15 million subscribers, which reflects an improvement in its national market share from 13.6% to 14.5%.
Yesterday, Angel Broking in its recommendation call, has maintained Reduce rating on Idea Cellular. The scrip of the company ended the day at Rs 58, up 2 per cent compared to previous close of Rs 57.